According to Microsoft, the update will introduce a 120Hz refresh rate for 1080p or 1440p displays. “In May, we’re adding support for additional panel refresh rates. Gamers with gaming monitors and televisions that support a 120Hz refresh rate can now turn on 120Hz support for 1080p and 1440p output resolutions. This high refresh rate option means you can now take full advantage of displays with 120Hz capabilities.”
However we should point out that this is assuming that your display can support 120Hz to begin with, which means that if your TV or monitor is capped at 60Hz then we guess you’d be out of luck as you won’t be able to take advantage of it. However for those with compatible displays, then we guess this is an update that you will definitely be looking forward to.
Microsoft does not mention specifically when the update will be released, except that it will arrive in the coming weeks for those part of the Xbox Insider community.